Starter homes top $1M in 233 cities: Zillow
In more than 230 U.S. cities, $1 million is only enough for a starter home, according to a new report.
The Zillow analysis found that the typical "starter home" was worth at least $1 million in 233 cities as of March. That's a huge jump from five years ago, when just 85 cities had million-dollar starter homes.
"First-time buyers are facing a market where prices that once seemed unimaginable have become reality," Kara Ng, senior economist at Zillow, said in a statement.
Nationally, the typical starter home is still relatively affordable at $192,514, but Zillow's findings underscore just how dramatically prices have surged in many areas since the pandemic.
The real estate website defined starter homes as those in the lowest third of home values within a region.
Which states have the most $1 million starter homes?
California leads the nation with 113........
